iPhone | iPad
Android
Huawei
Following the crisis in February, a number of high-net-worth individuals have moved to safer, stable and fast-growing countries around the world
KT APPDOWNLOAD
Abu Dhabi: Dh1.8 billion sustainable city coming up on Yas Island
The project will comprise 864 townhouses and apartments and 3,000sq.m. of retail space
The Sustainable City – Yas Island, in Yas North. Photo: Ashwani Kumar
A new 397,000sq.m sustainable city will come up on Yas Island in Abu Dhabi.
Construction of the Dh1.8 billion Sustainable City – Yas Island is scheduled to start in the last quarter of this year and aims to be completed in 30 months.
Abu Dhabi-based Aldar Properties and Dubai's Diamond Developers inked an agreement to form a joint venture to develop a fully sustainable and unique community.
The Sustainable City – Yas Island, in Yas North, will comprise 864 townhouses and apartments and 3,000sq.m. of retail space.
It will be powered by renewable energy, enabling residents to save up to 100 per cent on energy bills.
"The Sustainable City – Yas Island will have all the elements of high-quality, sustainable living and will complement our commitment to carbon reduction, in line with the UAE's Net-Zero by 2050 Strategic Initiative.
"The development will also provide another new and exciting lifestyle choice for our customers right in the heart of the highly sought after Yas Island," Jonathan Emery, Chief Executive Officer at Aldar Development, said at Abu Dhabi Sustainability Week.
Diamond Developers' 'The Sustainable City' branded concept and working model in Dubai was the first fully operational sustainable community in the Middle East.
ALSO READ:
Faris Saeed, chairman, Diamond Developers, said, "The successful replication and rapid growth of sustainable developments around the world depend on partnerships and collaborations between public and private sectors.
"We are pleased to join hands with Abu Dhabi's leading developer Aldar, and believe this agreement offers substantive opportunities for the exchange of knowledge.
"As we work together towards building a more sustainable and prosperous future for the UAE, we pave the way to the evolution of a more sustainable infrastructure and a clear pathway to achieving net-zero."
There will be car-free residential clusters, recycling facilities, and indoor vertical farming. In addition to residential and retail elements, the development will feature an equestrian centre, a mosque, cycling and jogging tracks, and spacious landscaped areas.
More news from Property
A total of 7,552 properties were transacted in Q3 2022 in the emirate's prime residential market, including 6,940 apartments, 316 villas, and 251 townhouses
In September, the average yearly rents for apartments and villas hit Dh89,986 and Dh268,758, respectively
The traded properties included residential, commercial, industrial, and agricultural lands, and cover a total area of more than 3.9 million sq ft
Construction of villas, residential blocks have been registered with digital platform ‘DARI’, which was launched to enhance transparency in real estate sector
10-year Golden Visa among top draws for Indians, says property developer
This neighbourhood is home to some of the most expensive villas ever sold in the emirate — and experts say it is better than similarly known rows in London and New York